The Bank of Japan has released the minutes of the monetary policy meeting held in January this year.
In the debate over the "inspection" of monetary easing measures, there was an opinion that "more elastic and sharp management is important" for the purchase of ETFs = exchange-traded funds made by collecting multiple stocks.
The Bank of Japan has released the minutes of the monetary policy meeting held for two days until January 21st.
In this, discussions were held on "inspection" of monetary easing measures to achieve the price target of 2%, and the committee members said, "Cost-effectiveness to implement more effective monetary easing while minimizing side effects. It is necessary to find out if it can be operated more effectively in terms of. "
On top of that, regarding the purchase of ETFs, one member said, "It is important to operate with more elasticity and sharpness," and one member said, "We will make more elastic purchases and make a large scale when a big shock occurs. It is worth considering whether there is any device that can make a good purchase. "
Regarding long-term interest rates, another member said, "Even if it becomes volatile, it will have a limited impact on economic activity."
Based on these opinions, the Bank of Japan seems to have decided to "check" monetary easing measures at the monetary policy decision meeting last week, revise the ETF purchase policy, and clarify the fluctuation range of long-term interest rates.